Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

PayPal Alumni Launch Decentralized Payment Network

Published 06/16/2021, 04:11 AM
Updated 06/16/2021, 04:30 AM
PayPal Alumni Launch Decentralized Payment Network

  • Two former PayPal employees launched a decentralized global payment solution.
  • The platform, Six Clovers, uses stablecoins to make instant transfers.
  • Also, the platform offers refunds unlike most blockchains.

Two former PayPal employees teamed up to launch Six Clovers, a decentralized payment blockchain. Six Clovers aims to accelerate global transfers by connecting fiat and digital currencies.

Also, the blockchain aims to provide an alternative to the current SWIFT protocol which can take days to execute transactions. To this end, Six Clovers CEO Jim Nguyen noted,

A lot of the infrastructure that we are using today was built during the 1970s and ’80s…and for a lot of folks who are maybe born in that generation, it’s OK. But the internet native folks are now in the workforce and they’re like, I get my email in real-time, I can refresh my webpage in real-time, why does my money have to take a couple of days to get there?

To fix this, the platform leverages

This article was first published on coinquora.com

Continue reading on CoinQuora

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.